30 March 2009

Global core banking systems provider Temenos has launched Insight, a packaged business intelligence suite designed to empower banking staff to make better decisions about customer insight, risk and compliance and performance management strategies.

Insight is a modular, browser-based application, underpinned by Microsoft’s business intelligence platform, and fully integrated with the company’s T24 system. Temenos says that existing T24 users will be able deploy the system in less than eight weeks and begin to realise benefits immediately upon implementation, minimising disruption to the existing infrastructure, services and cost base. This new offering stems from Temenos’ acquisition last November of Lydian Associates, a UK-based business intelligence software provider for the banking sector.

“We are delighted to now be offering our clients a complete business intelligence product suite which has proved to be an excellent fit with T24’s functionality. High quality, real time information is clearly a strategic asset for banks and has become even more vital to their survival in this era of economic uncertainty,” said Andreas Andreades, Temenos’s CEO.

Jim Eckenrode, banking and payments research executive with analyst firm Tower Group, said: “We believe that business intelligence, as part of a larger effort at improving customer and business insight, will be critical to success in the global banking industry. With competition intensifying, data volumes exploding, and risk management moving to the forefront, developing a robust capability to manage information is no longer a nice-to-have.”

Using Insight, banks can generate daily profitability reports across portfolios, products, departments and branches throughout the entire enterprise to assess performance against organisational and market changes, creating an agile and adaptable business environment. Last September, banks using T24 were able to assess the counterparty exposure that the Lehman Brothers collapse had on their businesses in just 30 minutes. Banks can now generate this type of information immediately with Insight, to gain a stronger understanding of client attitudes, behaviours, profitability and counterparty risk for smarter retention and acquisition strategies.

Temenos says that Insight automates the T24 data capture process, reducing risk of errors and giving staff more time to focus on creating value-add analysis. In addition, as Insight is underpinned by Microsoft technology, information will be accessible to more staff, removing the need for specialist skills to generate enterprise intelligence. Microsoft’s David Vander, managing director of worldwide banking industry, said: “Temenos Insight on Microsoft SQL Server 2008 provides significant business intelligence capabilities that drive a strong connected experience for financial services customers both today and the future.”

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